Chandigarh: A major setback for the rice company's director in the ₹165 crore bank fraud case. His anticipatory bail has been rejected by the CBI, which had filed a case three years ago.

Sahil Bajaj, the director of Bajaj Basmati Private Limited, has received a setback from the Chandigarh CBI court in connection with the alleged bank fraud case involving ₹165 crore in rice trading. The court has rejected Sahil Bajaj's anticipatory bail application. The accused is allegedly misusing loans taken from three banks under the guise of purchasing rice. Sahil Bajaj had been absent from court for several months, after which the court...